Thailand will sell 55 billion baht of government savings bonds next month to help finance a budget deficit, a Finance Ministry official said on Monday.
The 5-year and 10-year bonds will be offered to the public with yearly average coupon of 2.9% and 3.6% respectively, said Patricia Mongkhonvanit, head of the ministry's public debt management office (PDMO).
The bonds will go on offer between June 13 and June 30 and will be the last batch of a record 165 billion baht issue planned for the current fiscal year ending September, up 33% from the previous year, she told a news conference.
Last month, the government approved the overall borrowing of 1.4 trillion baht for the 2022 fiscal year.
For the 2023 fiscal year starting in October, total borrowing should be lower as there would be no special borrowing for pandemic response measures, Ms Patricia said.
Thailand's overall public debt carries an average interest rate of 2.3% per year, she said.
With interest rates on an upward trend, the PDMO has largely shifted to fixed-interest rate borrowing from floating ones, Ms Patricia said.